Agenda item

Budget Monitoring Outturn report P8

Decision:

Cabinet Approved:

  1. The acceptance and incorporation of government funding totalling £9.6m into the Council’s Revenue budget in 2020/21 as detailed in Appendix A, Section 3.4.
  2. The Spending of £0.9m Additional Restriction Grant (ARG) passed through to the Council in supporting Local Businesses, Appendix A, Section 3.4.
  3. The incorporation of £436.667 grant from Home England if received into the capital programme as noted in Appendix A3.
  1. That the Period 9 (December) monitoring report to be the only publicly reported budget monitoring report for 2020/21 financial year before the year-end outturn report (at P12). Internal monitoring and forecasting by budget holders will still take place, however no formal public report will be published except for any significant movement in forecast (if any) reported on an exceptional basis. This will ensure that resources during these periods are redirected and focused on a list of activities detailed under Appendix A section 6.

That Cabinet Noted:

  1. Risks associated with the forecast outturn and the long-term financial impact on the Council as a result of COVID-19 pandemic.
  2. A risk of non COVID-19 related overspend on General fund services, an overall forecast overspend of £6.3m for 20/21 at Period 8, representing 1.6% of the approved budget. This overspend is like to trigger a supplementary estimate at year-end, provisional approval will be sought from Council in the budget report to facilitate this.
  3. Forecasts underspend of £3.3m with regards to the Housing Revenue Account.
  1. A forecast in-year deficit of £8.6m and a total £11.4m carried forward deficit in the ring-fenced Dedicated Schools Account (DSG).
  2. £1.021m bid had been submitted under National Leisure Recovery Fund (NLRF), details under Appendix A, section 3.
  3. A forecast £13.5m underspend against the approved Capital Programme.

 

Supporting documents: